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Technology Stocks : Adams Golf -- Ignore unavailable to you. Want to Upgrade?

To: isdsms who wrote (15)	7/10/1998 10:09:00 AM
From: Richard K.	Read Replies (1) \| Respond to of 81

It's coming out today. Thursday July 9, 11:52 pm Eastern Time Adams Golf starts trade Friday at $16/shr PLANO, Texas, July 9 (Reuters) - Golf club maker Adams Golf Inc said on Thursday its initial public offering of common stock had been declared effective and its shares will begin trading publicly Friday at an initial price of $16.00 each. The initial registration statement filed with the Securities and Exchange Commission related to an offering of 5.75 million shares of common stock, the company said in a statement. The company would offer an additional 250,000 shares for a total of six million shares, of which four million will be offered by the company and two million will be offered by certain stockholders of the company, the statement said. Additionally, the company and selling stockholders may sell up to 900,000 shares of common stock on identical terms to cover over-allotments, of which 37,500 shares would be sold by the Company. Adams Golf will have 23.1 million shares of common stock outstanding after the completion of the offering, prior to the exercise of the underwriters' over-allotment option. Managing underwriters are Lehman Brothers Inc., NationsBanc Montgomery Securities LLC, and Ferris, Baker Watts Inc. The company intends to use the net proceeds derived from the offering for working capital and general corporate purposes, including capital expenditures, expansion of the company's product development efforts, additional advertising and expansion of the company's international sales efforts. In addition, the company may use all or a portion of the net proceeds from the offering for possible acquisitions.